Giyani Identifies Further Manganese Targets and Receives Prospecting Licence Renewal
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Giyani Identifies Further Manganese Targets and Receives Prospecting
Licence Renewal
TORONTO, Ontario, October 10, 2024 – Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) (" Giyani" or
the "Company"), developer of the K.Hill Battery-Grade Manganese Project in Botswana (" K.Hill" or
“the Project”), is pleased to announce the identification of multiple new manganese oxide ore targets,
and the successful renewal of six out of seven of its prospecting licences (“PLs”) in Southern Botswana,
retaining a significant proportion of its original prospecting land package.
Highlights:
• Following the submission of the renewal application on June 28, 2024, and a subsequent
presentation to the Botswana Ministry of Mines, Giyani is pleased to share that six of seven
prospecting licences that were up for renewal have been successfully renewed until September
30, 2026. Giyani currently holds seven active prospecting licences with a total area of 1,884km2
(previously 1,960km2) with one licence, PL258/2017 (96km2), up for renewal before expiry on
December 30, 2024.
• The PL 322/2016 (438km2) that hosts Giyani’s recently received Mining Licence (see
September 18, 2024, news release (“NR”)) has been retained by the Company.
• The Company conducted a remote sensing survey in Q2 2024, which has identified anomalies
in many of Giyani’s licences , which warrant follow -up for potential additional sources of
manganese oxide ore.
• These newly identified manganese oxide ore targets within the Company’s prospecting licences
further reinforce Giyani’s overall exploration and development strategy and demonstrate the
potential to increase the Company’s battery-grade manganese production over and above the
c.60 year project life that our 2023 PEA (see July 31, 2023 NR) demonstrated.
• Prior to this survey, the Company had already identified three other potential manganese oxide
ore sources within its prospecting licences , Otse, Lobatse, and Mogobane, which could add
project life to the K.Hill project.
• Due to the recent analysis, Giyani’s smallest licence (PL339/2016, (77km2)) was not renewed,
as the surveys have shown the area lacks substantial geological anomalies compared to other
licences within the portfolio. Consequently, based on the latest remote sensing data, Giyani
has relinquished PL339/2016; this decision does not affect the overall success of the Project.
• The relinquishment of the PL339/2016 satisfies the requirement laid out by section 19 of the
Botswana Mines and Minerals Act , that with each renewal by the Company the area covered
by the licences should be reduced if no fieldwork is planned or has occurred over the previous
two years.
• Giyani remains optimistic about the exploration potential within its prospecting licences and is
dedicated to advancing its efforts in the region to add further ore sources to its already extensive
manganese oxide ore sources at K.Hill, Otse, Lobatse, and Mogobane.
Charles FitzRoy, President and CEO of the Company, commented:
“We are delighted to announce the identification of multiple new manganese oxide ore targets and the
successful renewal of six out of seven of our prospecting licences across Southern Botswana. This
directly attests to our strong relationship with the Botswana Ministry of Mines, and our sincere
commitment to unlock value from these areas. This further affirms our belief that Botswana offers
exemplary infrastructure supporting the pathway to development, further cementing the country’s
reputation as tier-1 mining jurisdiction.
We firmly believe, following preliminary work including a remote sensing survey, that these retained
licences are prospective. Relinquishing un-prospective licences allows us to consolidate our efforts and
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intensify our focus on our long-term strategy, while satisfying the legislative requirements of the
Botswana Ministry of Mines.
This strategic decision underscores our commitment to the ongoing development of our flagship K.Hill
Project and enables us to allocate resources effectively toward high-potential areas for increased ore
sources above and beyond our extensive portfolio that will drive our goal of being a dominant producer
of battery-grade manganese.
I look forward to updating shareholders on the progress of these licenced areas in due course.”
Background
The seven prospecting licen ces in question ( PL297/2016; PL298/2016; PL322/2016; PL336/2016;
PL337/2016; PL338/2016; and PL339/2016) were set to expire on September 30, 2024, and a review
process was undertaken in early 2024, with a report filed to the Botswana Ministry of Mines in the 3-
months prior to the licence expiry as stipulated by the Botswana Mines and Minerals Act.
A remote sensing program was conducted in Q2 this year ahead of the submittal date for licence
renewal. Six out of the seven licences have been renewed.
Following an informed assessment of the licences’ potential, and in light of the Company’s ongoing
commitment to exploring and developing its assets, Giyani elected to relinquish one of its seven licences
PL339/2016 as part of this process, due to recent analysis identifying this licence as not prospective.
The review was held in accordance with the Mines and Minerals Act (section 17), which stipulates that
mining licences must be reviewed every 2 years.
Giyani Appoints Red Cloud Financial Services
The Company is also pleased to announce that it has entered into a promotional services agreement
with Red Cloud Financial Services Inc. pursuant to which, among other things, RSFC has agreed to
provide certain promotional services to the Company in accordance with Policy 3.4 of the TSX Venture
Exchange (the “Exchange”). The engagement is for an initial term of 6 months (the “Initial Term”) and
subject to final Exchange approval. The Agreement shall be renewable on a month-to-month basis
following the Initial Term unless the Company or RCFS provides written notice of termination to the
other of them at least 30 days prior to the end of the Initial Term or a Renewal Term, as applicable. For
the Initial Term the Company shall pay RCFS $10,000 per month.
About Giyani
Giyani is focussed on becoming the dominant western-world producer of sustainable, low carbon high
purity battery grade manganese for the electric vehicle (“EV”) industry. The Company has developed a
proprietary hydrometallurgical process to produce High Purity Manganese Sulphate Monohydrate
(“HPMSM”), a lithium-ion battery (“LIB”) cathode precursor material critical for EVs.
The Company has secured US$26m in financing from two strategic partners, ARCH Sustainable
Resources Fund LP and the Industrial Development Corporation of South Africa, as it aims to progress
the K.Hill battery-grade manganese project in Botswana to construction by building and operating the
Demo Plant and completing a Definitive Feasibility Study in 2025.
Additional information and corporate documents may be found on www.sedarplus.ca and on Giyani
Metals Corp. website at https://giyanimetals.com/.
On behalf of Giyani Metals Corp.
Charles FitzRoy, President and CEO
Contact:
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Charles FitzRoy, President & CEO
Tel: +1289-291-7632
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
The securities described herein have not been registered under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold to, or for the account
or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under
the U.S. Securities Act ("U.S. Persons"), except in compliance with the registration requirements of the U.S. Securities
Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not
constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities to, or for the account of benefit
of, persons in the United States or U.S. Persons.
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation.
All statements in this news release, other than statements of historical fact, that address events or developments that
Giyani expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans",
"anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast",
"budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur.
Such statements include without limitation: the continued renewal of the Company’s prospecting licences, exploration
activities and results thereof, and timing, completion and timing of the aforesaid or at all.
All such forward-looking statements are based on the opinions and estimates of the relevant management as of the date
such statements are made and are subject to certain assumptions, important risk factors and uncertainties, many of which
are beyond Giyani's ability to control or predict. Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause
actual results, level of activity, performance or achievements to be materially different from those expressed or implied by
such forward-looking statements. In the case of Giyani, these facts include anticipated operations in future periods,
planned construction and development of its properties and facilities, and plans related to its business and other matters
that may occur in the future. This information relates to analyses and other information that is based on expectations of
future performance and planned work programs.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors which
could cause actual events or results to differ from those expressed or implied by the forward-looking information, including,
without limitation: inherent exploration hazards and risks; risks related to exploration and development of natural resource
properties; uncertainty in Giyani's ability to obtain funding; commodity price fluctuations; recent market events and
conditions; risks related to governmental regulations; risks related to obtaining necessary licences and permits; risks
related to Giyani's business being subject to environmental laws and regulations; risks related to the Company's mineral
properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to
competition from larger companies with greater financial and technical resources; risks relating to the inability to meet
financial obligations under agreements to which they are a party; ability to recruit and retain qualified personnel; and risks
related to the Company's directors and officers becoming associated with other natural resource companies which may
give rise to conflicts of interests. This list is not exhaustive of the factors that may affect Giyani's forward-looking
information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in the forward-looking information or statements.
Giyani's forward-looking information is based on the reasonable beliefs, expectations and opinions of the Company's
respective management on the date the statements are made, and Giyani does not assume any obligation to update
forward looking information if circumstances or management's beliefs, expectations or opinions change, except as
required by law. For the reasons set forth above, investors should not place undue reliance on forward-looking information.
For a complete discussion with respect to Giyani and risks associated with forward-looking information and forward-
looking statements, please refer to Giyani's continuous disclosure documents which are filed on SEDAR+ at
www.sedarplus.ca.